How Much Can Technology Actually Help Singaporeans Save on Car Insurance? As technology grows smarter and more sophisticated, companies the world over have wasted no time trying to figure out how it can be utilized to improve the way they do business. Insurance companies are no exception.
InsurTech startup SafetyNet is using insurance to increase Americans’ financial security SafetyNet, a Madison, Wisconsin-based insurance tech startup, is hoping to solve a problem that plagues nearly half of all Americans. “A Fed[eral Reserve] report said that almost half of Americans can’t afford to pay a $400 surprise expense,” said Mark Greene, Director of Innovation at SafetyNet.
How to Move to the Post-Digital Age? We are in the midst of the shift from the information age to the digital age, which is realigning fundamental elements of business that require major adjustments to thrive, let alone survive. As we noted in our new report, Greenfields, Startups and InsurTech: Accelerating Digital Age Business Models, new greenfield and startup competitors are rising from within and outside of every industry, including insurance
Prospects for brokers where insurtech and AI struggles The rise of insurtech is impossible to ignore. New players are popping up everywhere casting lines of innovation into the insurance space. They won’t all survive, but the ones that do are starting to thrive. Data and software is fundamental to how insurtech generates business. Unlike incumbent insurers and brokerages, insurtech companies are not tied down by legacy and tradition.
Munich Re Digital Partners selects IBSuite as Insurance Platform for European Startups Munich Re’s (Munich) Digital Partners division has selected Insurance Business Applications’ (IBA, Copenhagen) IBSuite as its insurance SaaS platform to support European startup insurance propositions. IBSuite supports the entire insurance value chain, from marketing to sales, quote to policy, policy administration, billing, claims and reporting, according to the vendor.
Allianz and InsurTech Startup Flock to Launch UK’s First Pay-as-you-Fly Drone Insurance Allianz Global Corporate & Specialty SE (AGCS), the corporate insurance carrier of Allianz SE, is working with InsurTech startup Flock (www.flockcover.com) to develop digital insurance solutions for the growing drones or ‘Unmanned Aircraft Systems’ (UAS) market.
InsurTech startup Brolly gets £1m Seed co-led by Valar Ventures and Pi Labs UK InsurTech startup Brolly has closed a £1m Seed round led by Valar Ventures and Pi Labs. According to TechCrunch, Entrepreneur First also took part via its £40m ‘Next Stage Fund’. Other investors in the round included Alan Morgan, chairman of MMC Ventures;
Future of Insurtech: Opportunities and Challenges The emerging insurance tech (“insurtech”) industry is growing at breakneck speed. While in 2011 insurtech startups received $140 million in funding from 28 total deals, investment increased more than tenfold in 2016, with investors pouring nearly $1.7 billion into 173 deals.
epetsure™ Launches Vet Approved Pet Insurance Marketplace Today marks the re-launch of epetsure™, a pet insurance marketplace aimed at helping millennial pet parents protect their four legged best friends. The idea came about when Andy Smit, serial pet industry entrepreneur, saw a need in the market for a clean, modern, millennial focused marketplace for pet parents.